July 27, 2024 BY
IN Education

Lock Recovery EA V3.0 for MT4: A Smart Approach to Risk Management

Introduction

The Lock Recovery EA V3.0 is a powerful tool designed to handle losing positions effectively. Unlike traditional stop-loss orders, this robot introduces a unique combination of grid trading and Martingale strategies. Let’s explore how it works.

Key Components

  1. Lock: The EA locks a losing position by opening a reverse order. This prevents further losses from accumulating. Locking is a critical feature, especially during emergencies when an account needs special care.
  2. Grid Averaging: Lock Recovery performs recovery for loss positions by averaging the position and partially closing unprofitable orders until all positions are cleared. Users only need to fill in the start lot in the input panel and select the type of lot and close partial.

Types of Lock

  1. No Split Lot: The bot locks the position with the same lot size that experienced a loss. For example, if the total lot experiencing a loss is 0.1, the bot will open 1 opposite position with a lot size of 0.1.
  2. Split Lot Lock Into Minimum Broker Lot: The bot opens a lock position using the broker’s minimum lot size. If the total lot experiencing a loss is 0.1, and the broker’s minimum lot is 0.01, it opens 10 opposite positions with 0.01 lots each.
  3. Split Lot Lock Into X Parts: Users specify the number of parts (X) for splitting the lot. For instance, if the total lot experiencing a loss is 1, and X is set to 50, the bot opens 50 opposite positions with a lot size of 0.02 each.

Additional Insights

  • Smart News Feature: The EA allows users to remove opened or pending orders before high/medium/low impact news events. Stay informed and adjust your positions accordingly.
  • Stealth & Decoy Stop Loss: Hide your stop loss and profit target from your broker to prevent manipulation. The decoy stop loss misleads the broker by adding extra pips.

Conclusion

The Lock Recovery EA V3.0 for MT4 offers a robust risk management solution. By using locks and grid averaging, it provides greater control over losses while preserving profit potential. Traders can integrate it seamlessly into their strategies.